HOUSTON AND COLLEGE STATION, TEXAS — Hurricane Harvey has brought massive amounts of rain, flooding and destruction to southern Texas, but reports show that on- and off-campus student housing properties have largely escaped the worst of the damage. The Texas Tribune reports that colleges in Houston have cancelled class and evacuated some student housing as the rain continues to fall and floodwaters continue to rise. About three buildings on the University of Houston campus have taken on..
Nearly a week has passed since Hurricane Harvey made landfall in Texas, drenching Houston and the Gulf Coast area with trillions of gallons of rainwater and sending residents scrambling for shelter. While Houston is now, in the words of Mayor Sylvester Turner, “mostly dry,” CoStar estimates that roughly 72,000 residential units are situated within Houston’s 100-year floodplain and are expected to suffer water damage, if they haven’t already. The volume of devastation has prompted..
SEATTLE AND AUSTIN, TEXAS — Amazon (NASDAQ: AMZN) has officially closed its $13.7 billion acquisition of Whole Foods Market. The first order of business for the e-commerce giant is making the Austin-based grocer’s high-quality and organic food more affordable for its shoppers. Beginning yesterday, Whole Foods Market now offers lower prices on selected grocery staples across its stores, with more to come. These include fair-trade bananas, organic avocados, organic large brown eggs,..
ATLANTA — Legislative decisions made over the next 18 months will have a substantial effect on American businesses, according to Sen. Johnny Isakson (R-Ga.). The remarks were made at the fourth annual InterFace Seniors Housing Southeast conference on Wednesday, Aug. 23. The event drew over 400 industry professionals. “If you’re in business in America, what happens in Washington has a lot to do with your business,” he says. “You’re going to begin to see pressure on elected..
ATLANTA — When businesses loosen their purse strings and increase their capital expenditures (CapEx), good things tend to follow. U.S. businesses this year have already doubled the volume of CapEx recorded for all of 2016, which has contributed positively to the nation’s real gross domestic product (GDP), according to Rajeev Dhawan, director of the Economic Forecasting Center at Georgia State University’s (GSU) J. Mack Robinson College of Business. Speaking at his quarterly economic..
It was not so long ago that the actual merchandise was the focal point of most malls and shopping centers throughout the country. Technology, social media and the rise of a new generation have changed that focus. Or, at least, altered that focus, blurring the lines between products and services, retail and entertainment and ecommerce and bricks and mortar. Nowadays, shopping centers and the store brands that inhabit them must be much more. In fact, many are now tasked with being all things to..
Reducing property tax assessments can be challenging under the best of circumstances, and distinctions between state tax systems make minimizing that burden across an office or industrial portfolio especially daunting. But a recent Delaware Supreme Court decision provides taxpayers with a new, yet surprisingly familiar, opportunity to ease the tax burden on properties in The First State. Delaware’s Tax Assessment System Shows its Age [caption id="attachment_185085" align="alignright"..
Halfway through a year of transition, the self-storage sector continues to undergo changing investor dynamics while feeling the effects of political uncertainty in Washington. Yet opportunities abound, particularly in the Midwest, where a moderate development pipeline has kept supply in check with demand. We’re currently witnessing a pool of buyers rethink their approach amid rising interest rates and a lack of tax and policy guidance. As a result, large self-storage real estate investment..
The data center industry is stepping up to meet escalating demand for storage, according to a new report from JLL, which reveals that data center construction in North America is up 43 percent in 2017 compared to 2016. In addition, industry consolidation powered a $10 billion surge in mergers and acquisitions (M&A) in the first half of 2017. Data center users identified the biggest industry changes projected for the next two years in JLL’s report. Among the predictions: ..
Total nonfarm payroll employment rose by 209,000 in July, according to the Bureau of Labor Statistics (BLS), beating expectations and boosting confidence that this expansionary phase of the economy still has legs. A panel of economists assembled by the Wall Street Journal predicted a net gain of 180,000 jobs. Job growth is always a welcome sign for the commercial real estate industry — especially when the numbers exceed expectations — because employment drives demand for all types of..